Kuala Lumpur Kepong : KLK OLEO Completes Acquisition of Temix Oleo

KUALA LUMPUR KEPONG BERHAD

197301001526 (15043-V)

Wisma Taiko, No 1 Jalan S.P. Seenivasagam 30000 Ipoh, Perak Darul Ridzuan, Malaysia T: [phone]xxxx xxxF: [phone] www.klk.com.my

FOR IMMEDIATE RELEASE

11 April 2023

KLK OLEO completes acquisition of Temix Oleo

Acquisition expands KLK OLEO's product offering for Oleochemicals

PETALING JAYA, 11 APRIL 2023: Kuala Lumpur Kepong Berhad ("KLK"), via its subsidiary under its resource-based manufacturing division known as KLK OLEO, has recently completed its acquisition of a controlling stake in Temix Oleo SpA ("Temix Oleo") for an undisclosed sum. The transaction was completed after receiving all necessary approvals and fulfilling all customary closing conditions.

"We are thrilled to have completed this acquisition and to welcome the talented team from Temix Oleo to the KLK group. This acquisition is aligned with our long-term strategy and vision for growth by further diversifying our product offering, increasing access to key customers and augmenting our product specialisation strategy across our European operations," said Uwe Halder, CEO of KLK OLEO Europe.

"We are excited to join forces with KLK OLEO and bring our unique capabilities and expertise to the table. We are confident that this merger will be beneficial for all parties involved and will create new opportunities for growth and innovation," said Roberto Cella, Managing Director of Temix Oleo.

KLK OLEO is a global integrated oleochemical producer (oleochemical, derivatives and specialty chemicals) with manufacturing sites in Malaysia, Indonesia, China, and Europe. KLK OLEO is the manufacturing division of KLK, a leading international plantations group listed on the Malaysia stock exchange with a market capitalisation of approximately RM22.318 billion as at the end of September 2022.

Temix Oleo is an oleochemical company focused on production of Esters mainly based on renewable feed stocks, and delivering solutions for lubricant, cosmetic, ceramic, coating, rubber and plastics industries. Based in Milan, Italy, Temix Oleo has a production plant in Calderara di Reno, Bologna, with over 100 employees and a turnover of RM697.4 million in 2022.

For more information, please visit www.klkoleo.com/klkemmerichand www.temixoleo.com.

ENDS

About Kuala Lumpur Kepong Berhad (KLK)

KLK started as a plantation company more than 100 years ago and today, the development of oil palm remains the Group's core business. As of September 2022, KLK has around 300,00 hectares of planted area. Our landbank is spread across Malaysia (Peninsular and Sabah), Indonesia (Belitung Island, Sumatra, as well as Central and East Kalimantan) and Liberia.

Since the 1990s, KLK has diversified into resource-based manufacturing (refining, oleochemical, derivatives and specialty chemicals) and vertically integrated its upstream and downstream businesses. The Group has since expanded its manufacturing operations resulting in internationally scaled oleochemicals operations in Indonesia, China, Switzerland, Germany, the Netherlands, and Belgium.

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The Group, in 1990, started capitalising on the strategic location of its land bank in Peninsular Malaysia by branching into property development. Our first foray into property development was Sierramas in Sungai Buloh, a joint venture with Tan & Tan Development Bhd. It is presently focused on Bandar Seri Coalfields, a 1,001-acre township in Sungai Buloh, Selangor.

In 2022, KLK was recognised as one of Malaysia's Best Managed Companies by Deloitte Malaysia, as well three awards from The Edge Billion Ringgit Club 2022, namely Value Creator: Malaysia's Outstanding CEO for Tan Sri Dato' Seri Lee Oi Hian, as well as Highest Growth in Profit Over Three Years for two categories - Big Cap Companies and Plantation.

For more information, please visit www.klk.com.my.
For more information, please contact:
Rosalynn Poh	Chin Su Ci
Head of Corporate Communications	Corporate Communications Manager
[e-mail]	[e-mail]

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